Applied Materials Sales, Profit Climb on Semiconductor Demand

Dow Jones
7 hours ago
 

Applied Materials recorded a jump in both profit and sales in the fiscal fourth quarter, fueled by artificial intelligence-driven demand for semiconductor services.

The semiconductor company posted a profit of $2.72 billion, or $3.40 a share, compared with $1.90 billion, or $2.38 a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were $4.16, ahead of the $4.06 anticipated by analysts, according to FactSet.

Revenue climbed 53% to $10.41 billion. Analysts surveyed by FactSet forecast revenue of $10.30 billion.

Applied Materials is on track to grow its semiconductor systems business more than 40% this calendar year, Chief Executive Gary Dickerson said. Sales in the segment jumped 64% to nearly $8 billion in the most recent quarter.

"AI continues to fuel strong incremental demand for semiconductors and Applied has built the most-enabling portfolio to advance the AI-computing roadmap, putting us in a great position for multi-year revenue and profit growth," he said.

For the current first quarter of its new fiscal year, Applied Materials expects revenue to be $11.10 billion, plus or minus $500 million. It anticipates adjusted earnings per share of $4.35, plus or minus 20 cents a share.

The midpoints of both projections are ahead of Wall Street consensus estimates. Analysts were forecasting $10.85 billion in sales and $4.24 a share in adjusted earnings.

 
 

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10